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    Property profile & analytics

    462 Highland Ave Salem, MA 01970-1765

    • Retail space
    • 3,944 SF
    • 0.57 lot acres
    OFF-MARKET
    Value Estimation
    $2,665,000
    Last Sale
    Sep 20, 2023
    $2,450,000
    Location Intelligence
    Property ID
    US38-0773302
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Insa Cannabis Dispensary - Salem / Cannabis Store

    Property Details for 462 Highland Ave

    Year built
    1984
    Construction
    STEEL FRAME
    Lot size
    0.57 lot acres
    Property size
    3,944 SF
    Zone code
    B2
    Property type
    Retail space
    APN
    SALE M:03 L:0002
    APU
    SALEM03L0002

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $2,780,000

    • CAP approach

      CAP return
      Estimation
      6%
      $2,290,000
      6.5%
      $2,510,000
      7%
      $2,540,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $2,470,000
      Geo Method
      $2,670,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $3,020,000
      Retail
      $2,270,000
      Mixed-Use
      $2,440,000
      Hospitality
      $2,240,000
      Educational
      $2,495,000
      Residential Income
      $2,850,000
      Energy
      $2,670,000
      Income-Based Land
      $3,005,000
      Food Service
      $2,910,000

    Location Insight

    • Map
    • Local Demand
    City
    Salem
    County
    Essex
    State
    Massachusetts
    Longitude
    -70.9349
    Latitude
    42.493
    CBSA code
    14460
    CBSA name
    BOSTON-CAMBRIDGE-QUINCY, MA-NH METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $29,968
    $793,100
    $471,900
    $1,265,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $440,000
      2,098 SF

      45 Brg St

      RETAIL STORES (PERSONAL SERVICES) • 2,098 SF
      45 Brg St, Salem, MA 01970-4133
      View Details
    • Value Estimation by Request
      16,038 SF

      285 Derby St

      RETAIL STORES (PERSONAL SERVICES) • 16,038 SF
      285 Derby St, Salem, MA 01970-7511
      View Details
    • Value Estimation by Request
      5,814 SF

      276 Highland Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,814 SF
      276 Highland Ave, Salem, MA 01970-1978
      View Details
    • Value Estimation
      $315,000
      5,846 SF

      95 Congress St

      RETAIL STORES (PERSONAL SERVICES) • 5,846 SF
      95 Congress St, Salem, MA 01970-5509
      View Details
    • Value Estimation
      $365,000
      2,068 SF

      118 Derby St

      RETAIL STORES (PERSONAL SERVICES) • 2,068 SF
      118 Derby St, Salem, MA 01970-5646
      View Details
    • Value Estimation
      $745,000
      11,640 SF

      173 Essex St

      RETAIL STORES (PERSONAL SERVICES) • 11,640 SF
      173 Essex St, Salem, MA 01970-3726
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      High-Visibility Commercial Space in Salem

      Commercial space in Salem near downtown and commuter rail.
      97 Bridge St, Salem, MA 01970
      View Details
    • $390,000
      1,106 SF

      Salem Train Station Storefront

      Prime Salem location, 1,106 sq ft, high traffic.
      280 Bridge St, Salem, MA 01970
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      Established Polish Deli For Sale

      Profitable Polish deli established in 2001, available for sale.
      176 Essex St, Salem, MA 01970
      View Details
    • $395,000

      Downtown Salem Office Condo

      First floor office condo in downtown Salem for sale.
      20 Central St, Salem, MA 01970
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    • $1,295,000

      Renovated Salem Triplex Near Downtown

      Turn-key, renovated triplex near downtown Salem and the beach.
      51 Ocean Ave, Salem, MA 01970
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    • $2,500,000

      Spacious Mixed-Use Property in Salem

      Large mixed-use property with development potential in downtown Salem.
      11 Summer St, Salem, MA 01970
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    Similar Nearby for Lease

    • Contact for pricing

      Retail Space on Route 107

      Retail space available now at a busy intersection.
      Salem, MA 01970
      View Details
    • $2,200 /Mo

      Luxury Salon Space in Salem

      Fully furnished salon space with photography set available for rent.
      107 North St, Salem, MA 01970
      View Details
    • $3,000 /Mo

      Flex Space Near Downtown Salem

      Established flex space suitable for retail or office use.
      65-67 Congress St, Salem, MA 01970
      View Details
    • Contact for pricing
      1,380 SF

      Retail Space on Highland Avenue

      Retail space available now at a busy intersection.
      276 Highland Ave, Salem, MA 01970
      View Details
    • Contact for pricing

      Retail Space in Vinnin Square

      Retail space with excellent parking and visibility in Salem.
      17 Paradise Ave, Salem, MA 01970
      View Details
    • $13 SF/Yr
      4,355 SF

      Retail Space Available For Lease

      Retail space available for lease, totaling 4,355 square feet.
      135 Lafayette St, Salem, MA 01970
      View Details
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    462 Highland Ave
    Salem, MA 01970-1765
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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